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New York Life Insurance Company company logo
Corporation
FINANCIAL | Insurance / Life Insurance
newyorklife.com

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Investments

48

Portfolio Exits

24

Funds

4

Partners & Customers

10

Service Providers

2

About New York Life Insurance Company

New York Life Insurance Company is a mutual life-insurance company. New York Life's family of companies offers life insurance, retirement income, investments, long-term care insurance, institutional asset management, securities products and services, and retail mutual funds.

New York Life Insurance Company Headquarter Location

51 Madison Ave

New York, New York, 10010,

United States

+1 800 225 5695

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Expert Collections containing New York Life Insurance Company

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Research containing New York Life Insurance Company

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CB Insights Intelligence Analysts have mentioned New York Life Insurance Company in 1 CB Insights research brief, most recently on Mar 27, 2019.

Latest New York Life Insurance Company News

AM Best : Affirms Credit Ratings of New York Life Insurance Company and Certain Subsidiaries; Upgrades Issuer Credit Ratings of Life Insurance Company of North America and New York Life Group Insurance Company of NY

Oct 13, 2021

10/13/2021 | 09:28am EDT Message : *Required fields AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “aaa” (Exceptional) of New York Life Insurance Company and New York Life Insurance and Annuity Corporation. Additionally, AM Best has upgraded the Long-Term ICRs to “aaa” (Exceptional) from “aa+” (Superior) and affirmed the FSR of A++ (Superior) of Life Insurance Company of North America (LINA) and New York Life Group Insurance Company of NY (NYLGICNY). All companies are referred to as New York Life and are headquartered in New York, NY. AM Best also has affirmed the Long-Term ICRs of “aaa” (Exceptional) of New York Life Global Funding and New York Life Funding. Lastly, AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term IRs) on the funding agreement-backed securities programs, the outstanding notes issued thereunder and the Long-Term IRs on the existing surplus notes of New York Life Insurance Company. The outlook of the Credit Ratings (rating) is stable. (See below for a detailed listing of the Long- and Short-Term IRs) The ratings reflect New York Life’s balance sheet strength, which AM Best assesses as strongest, as well as its very strong operating performance, very favorable business profile and very strong enterprise risk management. The Long-Term ICR upgrades of LINA and NYLGICNY and rating affirmations include the addition of these two companies, which were acquired from Cigna Corporation on Dec. 31, 2020. LINA and NYLGICNY focus on the employee benefits segment. The addition of this segment expands the diversification of the group business as a core competency for New York Life, with expectations of management that the expanded business segment will be accretive to earnings, further supporting continued organic capital growth through positive earnings. AM Best expects that these new companies will maintain strategic importance to the parent as early indications are that the financial fundamentals and operations are fully integrated into New York Life. The ratings of the group reflect its ability to maintain capital levels, financial flexibility and earnings while funding a business acquisition during a period of volatile financial markets. The company continues to exhibit the ability to absorb, through its balance sheet, continued financial market volatility and credit impairments. As assessed over time, the group’s well-diversified asset portfolio has provided protection from credit market impairments during the past rating cycle. The group’s very strong operating performance is derived from a diverse revenue base, which has improved as a result of the recent acquisition, providing ample additional protection from financial market volatility. An expanding and diverse profitable book of annuities, life insurance and employee benefits provides support of the New York Life’s favorable business profile. The following Long-Term IRs have been affirmed with stable outlooks: New York Life Funding - “aaa” (Exceptional) program rating New York Life Global Funding - “aaa” (Exceptional) program rating -- “aaa” (Exceptional) on all outstanding notes issued under the program New York Life Insurance Company— -- “aa” (Superior) on $1 billion 5.875% surplus notes, due May 2033 -- “aa” (Superior) on $1 billion 6.75% surplus notes, due November 2039 -- “aa” (Superior) on $1.25 billion 3.75% surplus notes, due May 2050 -- “aa” (Superior) on $1 billion 4.45% surplus notes, due May 2069 The following Short-Term IR has been affirmed: New York Life Capital Corporation — -- AMB-1+ (Strongest) on the commercial paper program This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings . For information on the proper use of Best’s Credit Ratings, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments . AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com . Copyright © 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on businesswire.com: https://www.businesswire.com/news/home/20211013005720/en/ © Business Wire 2021

New York Life Insurance Company Investments

48 Investments

New York Life Insurance Company has made 48 investments. Their latest investment was in H2O.ai as part of their Series E on November 11, 2021.

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New York Life Insurance Company Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/7/2021

Series E

H2O.ai

$100M

Yes

6

11/17/2015

Debt

Earnest

$200M

Yes

1

10/22/2014

Corporate Minority

Jaguar Growth Partners

$39.65M

Yes

2

9/25/2014

Series B - II

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$99M

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10

5/20/2014

Series B

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$99M

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10

Date

11/7/2021

11/17/2015

10/22/2014

9/25/2014

5/20/2014

Round

Series E

Debt

Corporate Minority

Series B - II

Series B

Company

H2O.ai

Earnest

Jaguar Growth Partners

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Amount

$100M

$200M

$39.65M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

6

1

2

10

10

New York Life Insurance Company Portfolio Exits

24 Portfolio Exits

New York Life Insurance Company has 24 portfolio exits. Their latest portfolio exit was Versive on October 23, 2018.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

10/23/2018

Acquired

4

10/4/2017

Acquired

$991

3

4/3/2013

Divestiture

$991

2

00/00/0000

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$991

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10

00/00/0000

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$991

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10

Date

10/23/2018

10/4/2017

4/3/2013

00/00/0000

00/00/0000

Exit

Acquired

Acquired

Divestiture

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Companies

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Valuation

$991

$991

$991

$991

Acquirer

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Sources

4

3

2

10

10

New York Life Insurance Company Acquisitions

2 Acquisitions

New York Life Insurance Company acquired 2 companies. Their latest acquisition was Cigna - Group Life And Disability Business on December 18, 2019.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

12/18/2019

$991

Acquired Unit

4

1/4/2017

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$99M

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10

Date

12/18/2019

1/4/2017

Investment Stage

Companies

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Valuation

$991

Total Funding

$99M

Note

Acquired Unit

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Sources

4

10

New York Life Insurance Company Fund History

4 Fund Histories

New York Life Insurance Company has 4 funds, including NYLIM Mezzanine Partners LP.

Closing Date

Fund

Fund Type

Status

Amount

Sources

9/24/2003

NYLIM Mezzanine Partners LP

Expansions & Growth

$475M

1

12/31/2002

New York Life Capital Partners LP

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$99M

10

12/31/2000

New York Life Capital Partners II LP

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$99M

10

New York LIfe Capital Partners Co-investment Fund

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$99M

10

Closing Date

9/24/2003

12/31/2002

12/31/2000

Fund

NYLIM Mezzanine Partners LP

New York Life Capital Partners LP

New York Life Capital Partners II LP

New York LIfe Capital Partners Co-investment Fund

Fund Type

Expansions & Growth

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Status

Amount

$475M

$99M

$99M

$99M

Sources

1

10

10

10

New York Life Insurance Company Partners & Customers

10 Partners and customers

New York Life Insurance Company has 10 strategic partners and customers. New York Life Insurance Company recently partnered with Cerner on March 3, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

3/24/2021

Partner

Cerner

United States

New York Life Accelerates Underwriting Through Collaboration with Cerner

NEW YORK -- -- New York Life Insurance Company , America 's largest mutual life insurer , today announced an innovative collaboration with Cerner Corporation , a global health care technology company , to facilitate and simplify electronic health record retrieval .

2

5/6/2019

Partner

Fidelity Investments

United States

Fidelity Investments® Announces New Investment Solution: a Variable Annuity Providing Principal Protection and Growth Potential Developed with New York Life

With the introduction of this product , Fidelity Investments and New York Life Insurance Company continue to build on their successful partnership .

1

6/7/2018

Partner

AMA Insurance

United States

AMA Insurance partners with New York Life.

`` Together , New York Life Insurance Company and AMA bring a service-oriented relationship to the physician community , utilizing the latest digital tools to help customers make educated , well-informed decisions . ''

1

6/5/2018

Client

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10

10/26/2017

Vendor

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10

Date

3/24/2021

5/6/2019

6/7/2018

6/5/2018

10/26/2017

Type

Partner

Partner

Partner

Client

Vendor

Business Partner

Cerner

Fidelity Investments

AMA Insurance

Country

United States

United States

United States

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News Snippet

New York Life Accelerates Underwriting Through Collaboration with Cerner

NEW YORK -- -- New York Life Insurance Company , America 's largest mutual life insurer , today announced an innovative collaboration with Cerner Corporation , a global health care technology company , to facilitate and simplify electronic health record retrieval .

Fidelity Investments® Announces New Investment Solution: a Variable Annuity Providing Principal Protection and Growth Potential Developed with New York Life

With the introduction of this product , Fidelity Investments and New York Life Insurance Company continue to build on their successful partnership .

AMA Insurance partners with New York Life.

`` Together , New York Life Insurance Company and AMA bring a service-oriented relationship to the physician community , utilizing the latest digital tools to help customers make educated , well-informed decisions . ''

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Sources

2

1

1

10

10

New York Life Insurance Company Service Providers

2 Service Providers

New York Life Insurance Company has 2 service provider relationships

Service Provider

Associated Rounds

Provider Type

Service Type

Acquired Unit

Accounting Firm

Financial Advisor

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Service Provider

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Associated Rounds

Acquired Unit

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Provider Type

Accounting Firm

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Service Type

Financial Advisor

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Partnership data by VentureSource

New York Life Insurance Company Team

13 Team Members

New York Life Insurance Company has 13 team members, including current Senior Vice President, Dave Castellani.

Name

Work History

Title

Status

Dave Castellani

Senior Vice President

Current

Gary R Bennett

Chief Executive Officer, Executive Vice President

Former

John E Schumacher

Chief Executive Officer, President

Former

John Kim

President, Chief Investment Officer

Former

Craig Merdian

Chief Financial Officer

Former

Name

Dave Castellani

Gary R Bennett

John E Schumacher

John Kim

Craig Merdian

Work History

Title

Senior Vice President

Chief Executive Officer, Executive Vice President

Chief Executive Officer, President

President, Chief Investment Officer

Chief Financial Officer

Status

Current

Former

Former

Former

Former

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